Another measure of sentiment is provided by some anecdotal evidence. The mainstream media is hardly discussing gold, in contrast to a steady barrage of bullish stories typically accompanying short-term peaks.

Perhaps the most bullish aspect about gold though is the underlying fundamental factors that have been driving gold higher for years. National currencies are being terribly mismanaged by central bankers and trashed by the uncontrolled spending of politicians. Their policies haven’t changed even though it is becoming increasingly apparent that the sovereign debt crisis is leading national currencies toward a train-wreck.

Since the end of May, I have been making the point in interviews on King World News to prepare for a spectacular moon-shot in the precious metals this summer. The rocket may have already been launched, given that since its last test of support under $1,500 on July 1st, gold has risen about $60, or 4%.

What Did J.P. Morgan Mean?

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ABOUT

My objective is to share with you my views on gold, which in recent decades has become one of the world’s most misunderstood asset classes. This low level of knowledge about gold creates a wonderful opportunity and competitive edge to everyone who truly understands gold and money.